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Constellation agrees to buy $39M energy firm

It’s been a busy year on the power market for Constellation Energy and on Friday the company made another announcement that shows it is continuing to “investigate opportunities,” as a company spokesman said.

The Baltimore supplier of energy products and services said it has signed an agreement to acquire CPower, a New York provider of energy management and demand response services that reported revenues of $38.9 million in 2009….

….CPower, established in 2000, ranked No. 962 on the 2010 Inc. magazine list of the 5,000 fastest-growing private companies, with its 2009 revenues up 309 percent from $9.5 million in 2006, according to Inc. information. The company’s clients are in the industrial, commercial real estate, retail, institutional and residential sectors, according to its website.

Earlier this year, the company completed its $365 million purchase of two natural gas combined-cycle generation facilities in Texas from Navasota Holdings of Houston. Also this year the company agreed with Clipper Windpower to acquire the Criterion 28-turbine wind project in Garrett County. Koos said the Garrett County project is “about two-thirds constructed … this is our first wholly owned wind farm.”…

Read the full article here.

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